The Canadian miner is the latest company to be hit by changing policies in Africa as governments seem increasingly willing to upend historic deals with foreign companies in their quest for more mining revenue.
The company is mired in disputes with the governments of Tanzania and the Democratic Republic of Congo over law changes that raise taxes in the countries.
BHP forecasts reforms in China’s steel sector will continue to hand an advantage to suppliers of higher-quality iron ore and coking coal as consumption of the alloy keeps growing well into the next decade.
Qatar Investment Authority stepped in after the sellers -- a consortium of QIA itself and mining giant Glencore Plc -- told CEFC it wouldn’t proceed with the original deal announced in October.
The Swiss miner was granted a temporary injunction against the Israeli billionaire after petitioning the London court to rule against a Congolese judge’s decision last week to freeze assets at its Kamoto Copper project.
Pierre Andurand said the current reluctance of energy companies to invest in new production meant $300 a barrel was "not impossible" within a few years.